Triveni Engg: Audit Committee Certifies Fractional Share Proceeds Distribution
Triveni Engineering & Industries Ltd. has filed reports from its Audit Committee and Independent Directors, as required by SEBI Master Circular No. SEBI/HO/CFD/POD-2/P/CIR/2023/93. These reports, dated September 16, 2026, certify the distribution of proceeds from fractional shares to eligible shareholders following the Composite Scheme of Arrangement. This scheme involved the amalgamation of Sir Shadi Lal Enterprises Ltd. with Triveni Engineering & Industries Ltd. and the formation of Triveni Power Transmission Ltd., sanctioned by the National Company Law Tribunal. The company detailed the share exchange ratio and the process for handling fractional entitlements, including the appointment of a trustee to manage shares for eligible shareholders.
Key Highlights
- Audit Committee and Independent Directors certified fractional share proceeds distribution.
- Scheme of Arrangement involved Sir Shadi Lal Enterprises and Triveni Power Transmission.
- NCLT approved the composite scheme on May 7 & 18, 2026.
- Share exchange ratio was 100:137 for Amalgamated Company shares.
- Fractional shares were consolidated and held in trust for eligible shareholders.
Price Impact
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